Vishwas Agri Seeds Approves Financial Results, Appoints New Auditors, and Details IPO Fund Utilization
Vishwas Agri Seeds Limited (VISHWAS) reported significant corporate updates following its Board of Directors meeting on May 30, 2026. During the meeting, the company formally approved its audited financial results for the half year ended March 31, 2026, and finalized the appointments of its Secretarial and Internal Auditors for the upcoming financial years. Furthermore, the company provided a detailed statement regarding the utilization of funds raised through its Initial Public Offering (IPO).Audit and Governance Approvals
The Board of Directors acknowledged the audited financial outcomes and appointed external auditors to manage compliance and governance for the next two years.Key appointments approved include:
- Statutory Audit: The company accepted the Audited Financial Results for the half year ended March 31, 2026, along with the Auditor's Report, issued with an Unmodified Opinion by M/s. S V J K and Associates.
- Secretarial Auditor: M/s. G R Shah & Associates was appointed as the Secretarial Auditor for the financial years 2025-2026 and 2026-2027.
- Internal Auditor: M/s. Chehul Panchal & Associates, Chartered Accountants, was appointed as the Internal Auditor for FY 2025-2026 and FY 2026-2027.
Financial Performance Snapshot
The company presented its Balance Sheet and Cash Flow Statement data for the years ended March 31, 2026, and March 31, 2025.The Balance Sheet summary, comparing 2026 and 2025, showed key changes in liabilities and assets:
| Particulars | Figures as at 31.03.2026 (Rs. In Lakhs) | Figures as at 31.03.2025 (Rs. In Lakhs) |
|---|---|---|
| Share Capital | 1,000.00 | 1,000.00 |
| Reserves and Surplus | 4,192.79 | 3,978.59 |
| Total Shareholder's Funds | 5,111.52 | 4,978.59 |
| Total Non-current liabilities | 1131.52 | 1111.61 |
| Total Current liabilities | 513.25 | 935.85 |
| Total Equity and Liabilities | 11,307.36 | 11,307.36 |
| Inventories | 3,922.56 | 3,081.33 |
| Trade receivables | 4,821.05 | 4,196.84 |
| Cash and Cash Equivalents | 21.94 | 542.69 |
| Total Current assets | 9,101.09 | 8,251.39 |
| TOTAL ASSETS | 11,307.36 | 10,628.69 |
In terms of cash flow, the Net Cash from Operating Activities was (722.19) Rs. Lakhs for the year ended March 31, 2026, compared to (881.97) Rs. Lakhs in the previous year.
IPO Fund Utilization Update
Vishwas Agri Seeds also released details concerning the utilization of funds raised through its Initial Public Offering (IPO) on April 1, 2024. The company reported a deviation in the use of proceeds, which was subsequently approved by the shareholders through a Special Resolution passed on September 24, 2025.The initial amount raised was Rs. 2580.00 Lakhs. Management confirmed that a portion of the funds, originally intended for capital expenditures—such as the Corporate Office building, Seed Testing Laboratory equipment, Greenhouse setup, and Solar Panel installation—was reallocated.
This variation was executed to meet the company's working capital requirements, a move the management stated was designed to strengthen the company's liquidity and support sustainable, long-term growth.
| Original Object (Total Allocation) | Funds Utilized (Rs. in Lakhs) | Modified/Reallocated Object | Total Utilization (Rs. in Lakhs) |
|---|---|---|---|
| Furnish the Corporate Office building (400.00) | 208.74 | Corporate Office Building | 208.74 |
| Purchase Equipments for Seed Testing laboratory (150.00) | 0.00 | — | 0.00 |
| Set-up Greenhouse (150.00) | 16.41 | Greenhouse - Fan-Pad System | 16.41 |
| Install Rooftop Solar Monocrystalline Panels (60.00) | 35.00 | Solar Panel Installation | 35.00 |
| Additional Working capital Requirement (1100.00) | 1599.85 | Working Capital Requirement | 1599.85 |
| General Corporate Purpose (530.00) | 530.00 | General Corporate Purpose | 530.00 |
| Grand Total | 2390.00 | 2390.00 | 2390.00 |
The statement confirmed that the total utilization of the funds remains at Rs. 2390.00 Lakhs, with the variation in object being approved by the members.
VISHWAS Stock Price Movement
On Friday, Vishwas Agri Seeds Limited shares slipped by 0.49% to settle at ₹50.45, marking a slight decline from its previous closing price. The stock saw a total traded volume of 1,600 shares throughout the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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